Civic Intelligence

Hope Inc

990 • Fiscal year 2024 • EIN 06-1269812

Jan 01, 2024 to Dec 31, 2024 • Filed on Jul 29, 2025

Organization Profilewww.hopenewlondon.org
187 Williams StreetNew London, CT 06320

(860) 447-0812

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

31st percentile

0.01x

Higher debt load relative to assets than 31% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

37th percentile

0.03x

Higher debt load relative to revenue than 37% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

94th percentile

69%

Higher net margin than 94% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

58th percentile

$80,250

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 10.7% of source-year revenue.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

81st percentile

23%

Faster asset growth than 81% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

95th percentile

195%

Faster revenue growth than 95% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets31st percentile

Assets

Up

$2,782,823

Up $525,353 (+23%) from 2023

Net Assets

Up

$2,760,668

Up $521,352 (+23%) from 2023

Liabilities

Up

$22,155

Up $4,001 (+22%) from 2023

Revenue And Expenses
Liabilities / Revenue37th percentileNet Margin94th percentile

Revenue

Up

$752,128

Up $497,385 (+195%) from 2023

Expenses

Up

$230,776

Up $16,535 (+7.7%) from 2023

Net Income

Up

$521,352

Up $480,850 (+1187%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth81st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2011: $2,598,835Liabilities 2011: $21,983Net Assets 2011: $2,576,8522011Assets 2012: $2,664,534Liabilities 2012: $14,878Net Assets 2012: $2,649,6562012Assets 2013: $2,957,959Liabilities 2013: $16,432Net Assets 2013: $2,941,5272013Assets 2014: $2,707,159Liabilities 2014: $23,900Net Assets 2014: $2,683,2592014Assets 2015: $3,077,866Liabilities 2015: $17,667Net Assets 2015: $3,060,1992015Assets 2016: $4,021,230Liabilities 2016: $13,582Net Assets 2016: $4,007,6482016Assets 2017: $2,547,821Liabilities 2017: $32,009Net Assets 2017: $2,515,8122017Assets 2018: $2,873,978Liabilities 2018: $38,152Net Assets 2018: $2,835,8262018Assets 2019: $2,863,610Liabilities 2019: $39,496Net Assets 2019: $2,824,1142019Assets 2020: $2,173,806Liabilities 2020: $44,587Net Assets 2020: $2,129,2192020Assets 2021: $2,426,134Liabilities 2021: $51,332Net Assets 2021: $2,374,8022021Assets 2022: $2,226,485Liabilities 2022: $35,756Net Assets 2022: $2,190,7292022Assets 2023: $2,257,470Liabilities 2023: $18,154Net Assets 2023: $2,239,3162023Assets 2024: $2,782,823Liabilities 2024: $22,155Net Assets 2024: $2,760,6682024

Highlighted filing

2024

Assets$2,782,823
Liabilities$22,155
Net Assets$2,760,668
Open 2024 Filing

Operations Trend

Revenue Growth95th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500K-$1.0MRevenue 2011: $204,682Expenses 2011: $135,359Net Income 2011: $69,3232011Expenses 2012: $144,2432012Revenue 2013: $415,742Expenses 2013: $153,121Net Income 2013: $262,6212013Revenue 2014: -$102,714Expenses 2014: $155,554Net Income 2014: -$258,2682014Revenue 2015: $539,578Expenses 2015: $169,026Net Income 2015: $370,5522015Revenue 2016: $1,109,936Expenses 2016: $162,487Net Income 2016: $947,4492016Revenue 2017: -$108,450Expenses 2017: $175,594Net Income 2017: -$284,0442017Revenue 2018: $491,763Expenses 2018: $171,749Net Income 2018: $320,0142018Revenue 2019: $177,322Expenses 2019: $197,300Net Income 2019: -$19,9782019Revenue 2020: -$496,655Expenses 2020: $199,740Net Income 2020: -$696,3952020Revenue 2021: $435,116Expenses 2021: $202,133Net Income 2021: $232,9832021Revenue 2022: -$10,039Expenses 2022: $209,264Net Income 2022: -$219,3032022Revenue 2023: $254,743Expenses 2023: $214,241Net Income 2023: $40,5022023Revenue 2024: $752,128Expenses 2024: $230,776Net Income 2024: $521,3522024

Highlighted filing

2024

Revenue$752,128
Expenses$230,776
Net Income$521,352
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jul 29, 2025
Return Version
2024v5.2
Gross Receipts
$752,128
Mission and Program Overview

Mission

Housing for low and moderate income families

H.O.P.E.'s mission is to provide homeownership opportunities to low to moderate income families. We seek to revitalize neighborhoods without gentrification.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,068,076$1,214,185▲ $146,109
Savings and Temporary Cash Investments$942,202$898,595▼ $43,607
Inventories for Sale or Use$238,388$664,068▲ $425,680
Cash and Non-Interest-Bearing Accounts$8,804$5,975▼ $2,829
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$2,257,470$2,782,823▲ $525,353
Other Assets Total-$0-
Liabilities
Other Liabilities$18,154$22,155▲ $4,001
Total Liabilities$18,154$22,155▲ $4,001
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,669,201$2,190,553▲ $521,352
Net Assets With Donor Restrictions$570,115$570,115→ $0
Total Net Assets Fund Balance$2,239,316$2,760,668▲ $521,352
Total Liabilities and Net Assets / Fund Balance$2,257,470$2,782,823▲ $525,353

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$862,946$338,068$1,201,014
Buildings$288,100$340,678$628,778
Land$63,052-$63,052
Equipment$87$1,462$1,549
Compensation and Service Providers
Top Officer Pay58th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Stacey SmithExecutive DirectorFT$80,250$80,250

Board Members and Trustees

NameTitle
Peter SpringsteelChairman
Chris JohnsonVice Chair
Dan BranneganDirector
Helen BehneyDirector
Keith CapletDirector
Marilyn GrahamDirector
Ned HammondDirector
Richard TurnerDirector
Sophia SenatDirector
Suzanne ColeDirector
Annette FintonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Dependable Contracting ServicesContracting Services88 School Street, Taftville, CT 06380$354,586
Edward FedorshakContracting Services338 Geer Road, Griswold, CT 06351$256,138
Revenue and Support

Revenue Composition

Contributions and Grants
$642,341
Program Service Revenue
$100,225
Investment Income
$5,432
Other Revenue
$4,130
All Other Contributions
$581,109
Change in Net Assets
$521,352
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$144,113
Salaries, Compensation, and Employee Benefits$86,663
Total Fundraising Expense$10,672
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$32,076$41,064$7,110$80,250
Depreciation Depletion$48,793$264$46$49,103
Office Expenses$7,046$9,107$1,571$17,724
Occupancy$13,495$2,026$351$15,872
Insurance$12,008$3,172$549$15,729
Payroll Taxes$2,563$3,282$568$6,413
Fees for Services Accounting-$5,359-$5,359
Other Expenses$379$483$84$946
Fees for Services Other$602--$602
Total Functional Expenses$154,917$65,187$10,672$230,776
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Tenants$21,757
Payroll Liabilities$398
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“The Executive Director, Stacey Smith, who began her employment on June 1, 2023, is married to David Smith who is the owner of Dependable Contracting. Dependable Contracting has been working with H.O.P.E., Inc., for multiple years prior to Stacey Smith accepting the position of Executive Director.”

Form 990, Part VI, Section B, Line 11B

“Form 990 is reviewed by the Executive Director”

Form 990, Part VI, Section B, Line 12C

“Members of the Board of Directors are aware of ongoing projects and either excuse themselves or acknowledge when a conflict of interest may exist.”

Form 990, Part VI, Section B, Line 15A

“Review Committee meets to discuss current salary and proposed changes. Review Committee then advises Board on proposed changes. Board of Directors vote on proposed salary changes.”

Form 990, Part VI, Section C, Line 19

“Governing documents and financials are made available upon request.”

Filing and Contact Details

Filer

Filer Name
HOPE Inc
EIN
06-1269812
Phone
8604470812
Address
187 Williams Street, New London, CT 06320

Signing Officer

Name
Stacey Smith
Title
Executive Director
Signed
2025-07-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stacey Smith
Formed
1989
Legal Domicile
Ct
Voting Board Members
11
Independent Board Members
11
Employees
1
Volunteers
1

Preparer

Firm
Doherty Beals & Banks PC
Address
187 Williams St, New London, CT 06320
Preparer
Jodi Letourneau
Phone
8604432033
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IRS990/MethodOfAccountingOtherInd0X
IRS990/MinutesOfCommitteesInd0false
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0H.O.P.E.'s mission is to provide homeownership opportunities to low to moderate income families. We seek to revitalize neighborhoods without gentrification.
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IRS990/NoncashContributionsAmt09067
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IRS990/OccupancyGrp/FundraisingAmt0351
IRS990/OccupancyGrp/ManagementAndGeneralAmt02026
IRS990/OccupancyGrp/ProgramServicesAmt013495
IRS990/OccupancyGrp/TotalAmt015872
IRS990/OfficeExpensesGrp/FundraisingAmt01571
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt09107
IRS990/OfficeExpensesGrp/ProgramServicesAmt07046
IRS990/OfficeExpensesGrp/TotalAmt017724
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Real estate taxes
IRS990/OtherExpensesGrp/Desc1Repairs & Maintenance
IRS990/OtherExpensesGrp/Desc2Dues & Fees
IRS990/OtherExpensesGrp/Desc3Telephone
IRS990/OtherExpensesGrp/FundraisingAmt0393
IRS990/OtherExpensesGrp/FundraisingAmt184
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0430
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1483
IRS990/OtherExpensesGrp/ProgramServicesAmt019203
IRS990/OtherExpensesGrp/ProgramServicesAmt118341
IRS990/OtherExpensesGrp/ProgramServicesAmt2411
IRS990/OtherExpensesGrp/ProgramServicesAmt3379
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IRS990/OtherExpensesGrp/TotalAmt118341
IRS990/OtherExpensesGrp/TotalAmt21234
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IRS990/OtherLiabilitiesGrp/EOYAmt022155
IRS990/OtherRevenueMiscGrp/Desc0Non-Program Income
IRS990/OtherRevenueMiscGrp/Desc1Service/Fee Income
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt03152
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt1978
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1978
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IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt0568
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03282
IRS990/PayrollTaxesGrp/ProgramServicesAmt02563
IRS990/PayrollTaxesGrp/TotalAmt06413
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Stacey Smith
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0Low income apartment rent
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0100225
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0100225
IRS990/ProgSrvcAccomActy2Grp/Desc0Low-Income Rentals
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt047314
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt039783
IRS990/ProgSrvcAccomActy3Grp/Desc0HOPE Houses - new construction or rehabilitated homes for sale to low-income families.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt026673
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0425771
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt02707
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0118745
IRS990/PYOtherRevenueAmt0-242816
IRS990/PYProgramServiceRevenueAmt069081
IRS990/PYRevenuesLessExpensesAmt040502
IRS990/PYSalariesCompEmpBnftPaidAmt095496
IRS990/PYTotalExpensesAmt0214241
IRS990/PYTotalRevenueAmt0254743
IRS990/QuidProQuoContributionsInd0false
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0521352
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0true
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Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,782,823
Liabilities
$22,155
Net assets
$2,760,668
Revenue
$752,128
Expenses
$230,776
Net income
$521,352
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.78$0.02$2.76$0.75$0.23$0.52
2023Detailed filing. Detailed filing data is available for this year.$2.26$0.02$2.24$0.25$0.21$0.04
2022Detailed filing. Detailed filing data is available for this year.$2.23$0.04$2.19$0.01$0.21$0.22
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.43$0.05$2.37$0.44$0.20$0.23
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.17$0.04$2.13$0.50$0.20$0.70
2019Detailed filing. Detailed filing data is available for this year.$2.86$0.04$2.82$0.18$0.20$0.02
2018Detailed filing. Detailed filing data is available for this year.$2.87$0.04$2.84$0.49$0.17$0.32
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.55$0.03$2.52$0.11$0.18$0.28
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.02$0.01$4.01$1.11$0.16$0.95
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.08$0.02$3.06$0.54$0.17$0.37
2014Detailed filing. Detailed filing data is available for this year.$2.71$0.02$2.68$0.10$0.16$0.26
2013Detailed filing. Detailed filing data is available for this year.$2.96$0.02$2.94$0.42$0.15$0.26
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.66$0.01$2.65$0.14
2011Summary only. Only limited summary data is available for this year.$2.60$0.02$2.58$0.20$0.14$0.07